Debt consolidation replaces multiple high-interest loans and credit card balances with a single new loan at a lower interest rate. This calculator lets you add up to 6 existing debts (credit cards, personal loans, consumer loans, etc.), enter a consolidation loan rate and tenure, and instantly see: ...
YOUR EXISTING DEBTS
EMI: ₹8,857 · Interest: ₹62,571
EMI: ₹10,846 · Interest: ₹90,446
EMI: ₹8,930 · Interest: ₹67,899
CONSOLIDATION LOAN
NEW EMI
₹17,762
Save ₹10,871/mo
NET SAVING
₹5,330
Break-even: 2mo
✓ Consolidation is beneficial
Weighted avg existing rate: 24% p.a. · Break-even: 2 months
CURRENT TOTAL EMI
₹28,633
NEW CONSOLIDATED EMI
₹17,762
Save ₹10,871/month in EMI payments
TOTAL INTEREST COMPARISON
✓ Saves ₹18,330 in interest
CONSOLIDATED LOAN BALANCE
Reducing balance · Break-even in 2 months
Add each of your existing debts — name, current outstanding balance, annual interest rate, and remaining months. Use the + Add Debt button to add up to 6 debts.
Enter the consolidation loan rate (the new personal loan rate you have been offered) and the new tenure in months. The calculator finds the total balance and computes your new EMI.
Enter the processing fee percentage (typically 1–2%) charged by the new lender. The calculator shows the net saving after fees and how many months it takes to break even on the fee.
The comparison table shows side-by-side: current total EMI vs new EMI, current total remaining interest vs new interest, and net saving after the processing fee.
Ramesh has three debts: Credit card Rs 1,50,000 at 36% (24mo left), Personal loan Rs 3,00,000 at 18% (36mo left), Consumer loan Rs 2,00,000 at 24% (30mo left). Total balance: Rs 6,50,000. Total monthly payment: Rs 28,633. Total remaining interest: Rs 2,20,916. Consolidation at 14% for 48 months: New EMI Rs 17,762 (saves Rs 10,871/month). Total interest: Rs 2,02,586. Interest saving: Rs 18,330. Processing fee at 2% = Rs 13,000. Net saving: Rs 5,330. Break-even: 2 months.
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Reducing balance method · Weighted average rate = sum(balance×rate)/total balance · Break-even = processing fee / monthly EMI saving · Always verify prepayment penalty with lender · Last updated: 29 April 2026 · Eagle-eyed accuracy for every calculation.